Data Age Announces Unprecedented Growth in Pawn Industry

Posted on 18 May 2012

PRESS RELEASE
Data Age Announces Unprecedented Growth in Pawn Industry
Largo, FL – February 7, 2012 – Today, Data Age Business Systems (Data Age), a U.S. based developer of pawnshop management software marketed as PawnMaster® announced unprecedented growth. While the twenty-four year old company has steadily grown to become the leading provider of software solutions to the pawn shop market, 2011 sales resulted in unit sales that exceeded total customers of most rivals. The company’s growth has been primarily concentrated around the United States, Canada, and Latin America, but much activity has presented itself throughout the Caribbean, Australia and European countries.

According to Victor Guzman, Data Age’s Vice President of Sales and Marketing, “Each day we encounter more interest in the pawn market, investors everywhere are recognizing the upside of filling the needs of the credit challenged or credit shy consumer. While these new entrants into the pawn market often bring ambitious multi-store plans we are also seeing many poorly funded entrepreneurs looking at operating on a shoestring budget. On the other hand many experienced pawnbrokers are opening up new locations and some are taking advantage of the opportunity to sell their stores to the major pawnshop chains that are branding operations on a large scale”.

Mr. Guzman goes on to explain how “the pawn industry has also realized a much needed improvement in its image. Television shows and focused efforts of many operators to provide clean well run stores have resulted in a growing awareness and even an interesting mystique. The sheer fact that so many people are forced to put property up for sale and lower prices causes others to become more frugal and consider second-hand products.

Jerry Whitehead, CEO of the Pawnshop Consulting Group who provides pawnbrokers and want-to-be entrants around the world with subject matter expertise also acknowledges the bullish activity in the market. Whitehead credits avant-garde business people embracing technology and a new paradigm of looking at the market. Whitehead attributes Data Age’s success to “a sound understanding of the pawn business and to its continued commitment to building a quality product and service”.
The Pawnshop Consulting Group has been responding to the needs of many in the industry by hosting an annual consortium of pawnbrokers focusing on best practices and working hand-in-hand with vendors to optimize operations through their symposiums, and also by developing the first of kind high level industry peer focus groups along with their executive leadership camp series.

About Pawnshop Consulting Group
The Pawnshop Consulting Group “PCG” provides comprehensive consulting and support services to the pawn industry. PCG specializes in pawn shop valuations, mergers and acquisitions, brokerage and capitalization services as well as customized assistance with management, financial performance and human resources. PCG delivers complete business and financial analysis to pawn operators worldwide as well helping to develop world class services in the operations and customer service areas.

About Data Age
Data Age Business Systems is a leading provider of Financial Transaction Software Solutions designed to help businesses improve profitability, comply with regulatory environments, and to implement controls that facilitate decision making, diversification and growth. Data Age’s focus is the alternative financial services industry. It provides software solutions to Pawnbrokers, Check Cashing, Payday Advance, Liquor Store, and Title Loan businesses. In addition, the company provides Credit Card Merchant Processing and off-site Data Storage services.

For further information, contact Corporate Communications at 727-582-9100 x103.

Jason Turner

Written by Jason Turner

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